Global Electronic Goods Packaging Market Segments, Size, Future Scope, Growth, Trends By Material (Corrugated Boxes, Foamed Plastic, Paperboard, Bubble Packaging, Others), By Product Size (Small Appliances, Large Appliances), By Technology (Authentication Packaging, Track And Trace Packaging) And By Region - Global Forecast To 2023
Electronic Goods Packaging Market Drivers and Restraints
The electronic goods packaging market is driven by several influential factors such as the growing logistics and global trade of electronic goods, which is driving the demand for electronic products, and consequently, the need for packaging. The exponential growth of the electronic goods market is the primary driver for the growth of the electronic goods packaging market. Moreover, the decreasing cost of packaging is also expected to contribute to market growth over the review period. Additionally, the growing warranty agreements and growing consumer awareness regarding superior quality packaging are also likely to fuel market growth. The increasing cost of non-compliance, due to the rising cost of litigation arising from consumer claims also drives the market. Furthermore, the booming e-commerce sector, along with investments towards various packaging technologies such as counterfeit packaging and the advancement of packaging functions is also likely to contribute towards market growth over the assessment period.
The electronic goods packaging market, according to the recent report by Market Research Future (MRFR), is expected to grow over the CAGR of about 5% during the review period (2017 to 2023).
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The key market players of the electronic goods packaging market identified by MRFR are
- International Paper Company (U.S.)
- Mondi plc. (Austria)
- DS Smith Plc. (U.K.)
- Sealed Air Corporation (U.S.)
- Smurfit Kappa (Republic of Ireland)
- Georgia-Pacific LLC (U.S.)
- Graham Packaging (U.S.)
- Pregis LLC (U.S.)
- Dunapack Packaging (Austria)
- Sonoco Products Company (U.S.)
- Stora Enso (Finland), and others
The global electronic goods packaging market is segmented on the basis of material, product size, and technology.
The types of materials used in the global electronic goods packaging market are bubble packaging, corrugated boxes, foamed plastic, paperboard, and others. Bubble packaging segment may grow up to a substantial market share over the review period, followed by a foamed plastic segment. The product size segment comprises of small appliances and large appliances. The technologies deployed in the market are authentication packaging and track and trace packaging.
The global market for electronic goods packaging is segmented, on the basis of region, into the Asia Pacific (APAC), Europe, North America, and lastly, the rest of the world.
The Asia Pacific region is one of the major regions of the market and is poised to hold the largest market share over the review period. This is attributed to the significantly improving economic scenario leading to rapid industrialization and population growth in evolving economies such as China, India, and Japan, among others. China and India lead the Asia Pacific electronic goods packaging market owing to their development as industrial bases, along with the expansion of electronics industry in these countries. Moreover, the growing consumption and demand for electronics due to the rising adoption of gadgets is creating promising conditions for the growth of the Asia Pacific electronic goods packaging market over the review period.
North America is estimated to reach the second-largest electronic goods packaging market over the assessment period, owing to the established electronics market in the developed economies such as the US and Canada. The presence of major market players, along with constant funding is expected to contribute to the growth of the market in the North American region over the review period.
North America is followed by Europe, where countries such as Germany, France, and the UK are assessed as the major contributors towards market growth. The high demand and sale of electronic products contribute consequently to the need for electronic goods packaging.
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Related Report : https://www.marketwatch.com/press-release/electrostatic-discharge-esd-packaging-market-2019-size-high-cagr-share-industry-trends-global-analysis-by-top-players-revenue-overview-future-plans-and-forecast-to-2023-2019-11-14
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